Ex-Galleon Employee Avoids Prison

By

Dan Strumpf

Oct. 25, 2012 8:15 p.m. ET

A former Galleon Group employee whose cooperation helped expose insider trading at the hedge-fund firm was sentenced to three years' probation after winning praise from the government for his cooperation in its investigation.

Michael Cardillo pleaded guilty in January 2011 to trading on inside information. He apologized to Judge Jed Rakoff for his conduct while employed by Raj Rajaratnam's firm.